How did concerns about the diabetes drug Lantus affect Sonofi shares?
Sanofi-Aventis SA’s Lantus diabetes drug was linked to an increased risk of cancer in studies in Germany and Sweden, according to the European Association for the Study of Diabetes, which issued an “urgent” call for further research into the connection. While patients should continue to take Lantus, they may want to consider alternatives, the group said in an e-mailed statement. The studies are published in the group’s journal, Diabetologia. Paris-based Sanofi said the research wasn’t conclusive and it stood behind the safety of Lantus. A German study of about 127,000 insulin-treated patients in an insurance database showed a “statistically significant link between patients who had used Lantus insulin and those who had been diagnosed with cancer,” according to the statement. The study didn’t consider Levemir, an insulin produced by Novo Nordisk A/S, the group said. Sanofi shares slumped 12 percent over the past two days, knocking 7.7 billion euros ($10.8 billion) off its market value,
